The importance of cost-plus approach is that if in future the company introduces some other new diversified product, with this approach it can easily decide the fair price, due to the ease of calculating compared to what other approaches provide. With product design information once the selling price is determined, you can and easily decide on the products and costs. This means that the reality of the market price is calculated as an approach to consider taking into account the buyer's point of view in terms of what they want and what they will pay. Its disadvantages are: This method neglects the concept of price elasticity of demand, it is possible for companies to set the price higher (or lower) to maximize profits depending on the customer's response to the change in the price of their product. With this method it is possible to reduce or control production costs only to a minimal extent, let's say that if the cost of resources increases, the selling price will also increase. There is a lack of efficiency and competitiveness compared to another competitor's prices. Alternative Approach for Eco-Shack One of the alternative approaches that Eco-Shack can choose is value-based pricing. Value-based pricing sets the price based on the value perceived by the customer. By choosing this approach, a company will have to do market research to determine the price, market research is important to avoid setting the price too high which makes the customer reluctant to buy it or too cheap which could lead to a loss or low profit.Eco -Shack can use this approach very efficiently since Eco-Shack offers a different, eco-friendly and environmentally friendly, good quality, with many features and customizable product which is different from others...... half paper.... ..k, Twitter etc. they can play a vital role in spreading the word about how the product delivers on growing environmental problems. The pricing method that Eco-Shack is currently using is cost based, this method is good for the company because it is easy to count and errors will be less likely to occur. However, by using this pricing approach, Eco-Shack will have difficulty maximizing its profit, and this method is less competitive and can affect the company's sales performance. Another thing that takes into consideration for the success of a product is positioning, the way the customer thinks about the product. A good positioning strategy will not only make the customer aware of the product, but will also attract and attract more customers. You need to prepare an alternative pricing approach if the customer doesn't like the price of the product or if the company wants to increase its profits.